Unemployment among Saudi nationals is around 12.8 per cent, but youth, who comprise about half of the population of 32 million face a more difficult challenge. Unemployment for those aged 20 to 29, stands at 29 per cent.

The total funds available for SMEs – directly or indirectly to tech entrepreneurs – are valued at $3.3 billion, yet, actual investments going into Saudi tech startups are concentrated on the seed stage and deal flows are moderate.